Apple raises iPhone trade-in value in China amid demand concerns, rising competition
Apple has increased the discount that buyers in China can get on a new iPhone on trading in their older ones to spur demand in the key market.According to a statement on its website, Apple is offering trade-in discounts in the range of 1,325 yuan ($184) for iPhone 12 to Rs 5,700 yuan ($790) for iPhone 15 Pro Max. The extra credit can be availed till June 18.The trade-in promotion comes months after Apple offered up to 500 yuan ($69) discount on the iPhone 16 Pro in January during the Lunar New Year shopping season.
The latest offer comes as Apple's market share in China shrank to 13.7% in the March quarter from 15.6% a year ago, according to an IDC report. Shipments during the period dropped to 9.8 million from 10.8 million a year ago, while annual growth dipped 9%. Meanwhile, homegrown Xiaomi topped the market share list at 18.6%, followed by Huawei (18%), Oppo (15.7%) and Vivo (14.4%). The owner of Mi smartphone line reported 40% annual growth at the end of three months to March.
iPhones also find themselves at the centre of Trump's tariff storm. China, which faces the highest tariffs, is the largest iPhone manufacturing hub in the world, and India is the second largest. While the Trump administration has kept crucial electronics out of the tariff regime, US President Donald Trump had said that they will be covered under a separate tariff bucket.
As Apple looks to diversify manufacturing outside China and move production lines to India, Trump has threatened the company with a 25% levy on iPhones if they are produced in any country outside the US. Historically, iPhones had never been produced in the US.
Xiaomi has also upped the ante by unveiling its own 3-nanometre mobile processor, becoming the second company after Apple to mass produce the advanced architecture. Named Xring O1, the chip will power three Xiaomi devices, including the Xiaomi 15S smartphone and Xiaomi 7 Ultra tablet.While Xiaomi's chip lags Apple silicon in some performance metrics, cofounder and CEO Lei Jun called it an achievement for his fledgling design team. The Chinese tech major has committed $6.9 billion investment in chip design, and around $28 billion in research and development of core technologies.
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